AI trades already worse than dotcom while earnings accelerate, trader argues
abhiadesai · x · 2026-11-03
Trader Andreas Steno argues that AI-related trades are already worse than the dotcom era in many sectors, even as underlying earnings keep accelerating — "amazing time to be alive and not particularly logical."
The reblogger attaches a page from Harvard economist Richard Zeckhauser's paper Investing in the Unknown and Unknowable, drawing a parallel with David Ricardo's famous pre-Waterloo bond bet: under unknowable outcomes, the key is spotting bets with thin competition, an eager seller, and asymmetric payoff.